One-page legal document concerning additional pay for service in the Revolutionary War
Providence: August 23, 1791. Folio (approx. 12" x 7½"); wax seal intact, signed by Sheldon, Leverett Green, Wheeler Martin (Justice of the Peace), and William Thurber, as witnesses; previous folds, very good. William Sheldon, mariner, signed this legal document in 1791, turning over his rights to his Revolutionary War depreciation wages of £44/11s. to Isaac Pitman, a Providence merchant. "Depreciation wages" referred to the situation that occurred shortly after the close of the Revolutionary War when an attempt was made to obtain additional pay, on account of the depreciation of the currency, for soldiers serving in the Rhode Island Regiments. A committee was appointed by the Rhode Island Legislature and a report made showing the "Depreciation Accounts," or the additional amount of pay to which each soldier was entitled. This report was accepted by the Rhode Island Legislature at the October session, 1785. No provision was made by the Legislature for the payment of these sums, which were apparently viewed as a claim on the Federal Government. From time to time an attempt was made to have Congress pass a bill appropriating money for the payment of these Depreciation Accounts. The last attempt appears to have been in 1834-5 when a bill was favorably reported in the House of Representatives, but failed to pass. Over time, a large number of the former soldiers assigned their interest in this "Depreciation Payment" to speculators who offered ready cash, for less than the face value, expecting to be able to collect the full amount in the future. The document reads: "I Wm Sheldon of Troy in the county of Rensselaer in the state of New York mariner now residing in Providence in the state of Rhode Island. For a valuable consideration paid to me by Isaac Pitman Merchant of Providence...I hereby sell assign set over and transfer...a certain balance of wages and the interest...reported due to me...on account of the depreciation of my pay as a Soldier in the Late State regiment of Artillery commanded by Edward Robert Elliott..." A short note also appears on the verso dated Providence, May 15, 1793. "For a valuable consideration I hereby sell and assign and transfer all my rights and title to the within depreciation unto Isaac Pitman. Witness Wm. Hall." Item #56115
Price: $1,250.00
